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5 QUESTIONS YOU NEED TO!ANSWER BEFORE !
LAUNCHING YOUR OWN STARTUP !
THE STARTUP QUIZ OR!
Chalmers Innova.on Spring Camp/May 15.2012
David Brudö/ david1 [email protected] Ex b-‐boy who turned to studying law, but was biIen by the entrepreneurial bug and never looked back
What’s the first thing you think about when you wake up and the last thing you think about before you fall asleep?
Ques.on #1
1) What to do this weekend X) How your family is doing 2) Your startup
You’ll spend more .me with your startup than with anyone else. It’s love and hate. It’s ups and downs. Make sure it’s something you really like.
Learning #1
What’s your most important superweapon?
Ques.on #2
1) The USP of your kick-‐ass product X) The team 2) The loads of cash you just raised
I t ’ s n o t a b o u t t h e technology. It’s not about the money. It’s about finding a fearless and humble killer team that’s commi7ed.
Learning #2
Looking for funding feels like…
Ques.on #3
1) …wai.ng in the toilet line when you really need to go X) …hoping that the person before you in the toilet line would really hurry up
2) …and shi]ng your pants just as it becomes your turn
Learning #3
Start fund raising way before you need it. Get investor feedback and adapt. A No is beIer than a maybe. Move fast and establish mul.ple op:ons.
Should you copy or innovate?
Ques.on #4
1) Innovate your core, copy everything else X) Just run fast and copy everything 2) Take the .me to define your innova.on
Learning #4
Find out fast what you’re g ood a t , f o c u s a nd i n n o v a t e o n t h a t . Outsource or copy the r e s t . I t e r a t e y o u r innova.on early to learn what’s your core.
When should you start selling?
Ques.on #5
1) When you have a business plan X) When you have something to show 2) As soon as you have an idea
Learning #5
What you think you know about the market and c u s t om e r a r e o n l y assump:ons. Start verify and test from day one if you are on the right track.
(Stolen from the Internetz)
What it’s all about